Citizens First Bank, Inc. SBA Loan to Eating Places Company

Citizens First Bank, Inc. is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Kentucky entrepreneur who tapped into the power of SBA loans.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Citizens First Bank, Inc., out of Bowling Green, Kentucky. The loan was granted and they received $37,000 to help grow their Bowling Green, Kentucky business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
BOWLING GREEN, KY 42103

SBA Loan Lender

CITIZENS FIRST BANK, INC.
987 LEHMAN AVE
BOWLING GREEN, KY 42101

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/27/2001

Loan Approval Gross Amount

$37,000

Loan Approval from the SBA

Of the total $37,000 loan amount, the SBA guaranteed $31,450.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Bowling Green KY, you ought to talk with a local Bowling Green SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bowling Green businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Startup Funding Tip

Banks in Bowling Green, Kentucky

Where to Get an SBA Loan Kentucky